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Bank of the Sierra 40884 Sierra Dr 3,294 SF Retail Building Three Rivers, CA 93271 $867,768 CAD ($263.44 CAD/SF) 6.10% Cap Rate
Investment Highlights
- Absolute NNN – No landlord responsibilities
- Average household income exceeds $107,000 within ten miles
- Significant Regional Tourism Economy — Tourism spending in Tulare County reached $626.2 million in 2024, up 6.0% from the previous year
- 2.25% annual rental escalations
- Three Rivers is the primary southern entry point to two of California’s most iconic national parks, with the Sequoia National Park entrance
- Three Rivers is the last stop for lodging, dining, fuel, and financial services before entering the national parks
Executive Summary
The Boulder Group is pleased to exclusively market for sale a single tenant net leased Bank of the Sierra located in Three Rivers, California. Bank of the Sierra has a successful operating history from this location that spans multiple decades. They are currently operating on a long-term lease through December 2041. The subject lease is absolute triple net and presents zero landlord responsibilities. Additionally, there are 2.25% annual rental escalations throughout the remaining primary term and one three-year renewal option. The lease is backed by a corporate guaranty from Sierra Bancorp. The tenant maintains an investment-grade BBB+ credit rating from Kroll Bond Rating Agency.
The 1,602 square-foot building in Three Rivers is situated just minutes from the main southern entrance to Sequoia and Kings Canyon National Parks—two of California’s most iconic destinations—with the Sequoia entrance located only a short drive from town. The site bene?ts from strong regional tourism traffic, as Tulare County saw $626.2 million in tourism spending in 2024, marking a solid 6.0% increase from the prior year. As the ?nal stop for lodging, dining, fuel, and ?nancial services before entering the parks, Three Rivers captures a steady stream of visitors heading to these major attractions. There are approximately 2,000–2,300 residents within the immediate area, with average household income exceeding $107,000 within a ten-mile radius, supporting a prosperous local customer base alongside the consistent park-bound ?ow.
Bank of the Sierra, a subsidiary of Sierra Bancorp (NASDAQ: BSRR), stands as the largest independent community bank headquartered in California’s southern San Joaquin Valley. Founded on September 14, 1977, in Porterville, California, with one branch, 11 employees, and $1.5 million in initial assets, the bank—headquartered at 86 N. Main Street in Porterville—has grown impressively to $3.83 billion in total assets (a strong 6.0% increase from $3.61 billion at December 31, 2024), nearly $3 billion in deposits, 35–36 full-service branches plus loan production offices, and approximately 476–500 employees as of late 2025. Serving retail and commercial banking needs across Tulare, Kern, Kings, Fresno, Ventura, San Luis Obispo, Santa Barbara, and Los Angeles counties.
The 1,602 square-foot building in Three Rivers is situated just minutes from the main southern entrance to Sequoia and Kings Canyon National Parks—two of California’s most iconic destinations—with the Sequoia entrance located only a short drive from town. The site bene?ts from strong regional tourism traffic, as Tulare County saw $626.2 million in tourism spending in 2024, marking a solid 6.0% increase from the prior year. As the ?nal stop for lodging, dining, fuel, and ?nancial services before entering the parks, Three Rivers captures a steady stream of visitors heading to these major attractions. There are approximately 2,000–2,300 residents within the immediate area, with average household income exceeding $107,000 within a ten-mile radius, supporting a prosperous local customer base alongside the consistent park-bound ?ow.
Bank of the Sierra, a subsidiary of Sierra Bancorp (NASDAQ: BSRR), stands as the largest independent community bank headquartered in California’s southern San Joaquin Valley. Founded on September 14, 1977, in Porterville, California, with one branch, 11 employees, and $1.5 million in initial assets, the bank—headquartered at 86 N. Main Street in Porterville—has grown impressively to $3.83 billion in total assets (a strong 6.0% increase from $3.61 billion at December 31, 2024), nearly $3 billion in deposits, 35–36 full-service branches plus loan production offices, and approximately 476–500 employees as of late 2025. Serving retail and commercial banking needs across Tulare, Kern, Kings, Fresno, Ventura, San Luis Obispo, Santa Barbara, and Los Angeles counties.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Bank
Building Size
3,294 SF
Building Class
C
Year Built
1994
Price
$867,768 CAD
Price Per SF
$263.44 CAD
Cap Rate
6.10%
NOI
$52,933 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.13
Lot Size
0.58 AC
Zoning
C2
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Finance and Insurance
- -
- -
- Dec 2041
L'histoire de Bank of the Sierra commence le 14 septembre 1977 dans la communauté agricole très unie de Porterville, en Californie. Ils ouvrent leurs portes avec une succursale, 11 employés, 1,5 million de dollars en actifs et une mission décisive pour aider leurs voisins à prospérer. Depuis, elle est devenue la plus grande banque indépendante ayant son siège social dans le sud de la vallée de San Joaquin, en Californie, avec plus de plusieurs milliards d'actifs, de nombreux employés et des succursales offrant une gamme complète de services bancaires et commerciaux et de prêts de détail.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Finance and Insurance | - | - | Dec 2041 |
Property Taxes
| Parcel Number | 068-360-006-000 | Improvements Assessment | $718,269 CAD |
| Land Assessment | $207,792 CAD | Total Assessment | $926,061 CAD |
Property Taxes
Parcel Number
068-360-006-000
Land Assessment
$207,792 CAD
Improvements Assessment
$718,269 CAD
Total Assessment
$926,061 CAD
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Bank of the Sierra | 40884 Sierra Dr
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